bonds

Project Description:

norman company issued $2,000,000, 9% 5 year bond at face value. bonds dated 06/01/2011 and pay interest semi annually on 06/1 and 12/1.
at 12/31/2011 prepare following:
1. journal entry to record issuance of bond.
2. adj entry to record interest accrued at 12/31/2011.
3. show balance sheet at 12/31/2011.
4. prepare entry to record interest payment on 06/01/2012 (assuming no interest accrued from 01/01/2012 - 06/01/2012.
5. prepare entry to record payment of interest on 12/01/2012.
6. assume norman co calls the bond at 102 on 12/01/2012. record the redemption of bonds.
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Project Stats:

Price Type: Negotiable

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